Amundi: Jefferies still a buyer, but cuts target

(CercleFinance.com) - Jefferies reinstates its "buy" rating on the Amundi share, while cutting its target price from 85 euros to 71 euros, in a report on European asset and wealth managers, in which it has reduced its EPS estimates.


"Whilst most companies have variable cost components and some are pursuing self-help initiatives, asset sensitive names are inevitably not a safe harbour in this storm," the broker says.

"The only solace is that, for several stocks, the market appears to have priced in a worse outcome than we have seen, at least so far: upgrading DWS to Buy."


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